As OPEC, the group of oil producing countries from the Middle East, implements production cuts aimed at erasing a global surplus, oil supplies from OPEC are plunging this month, as mentioned by tanker-tracker Petro-Logistics SA. The Geneva-based consultant said that in January, the first month of the accord’s implementation, the Organization of Petroleum Exporting Countries will…
While Melissa Benoit waited for double transplant at Toronto hospital, her terminal lung infection called for risky and unprecedented procedure. Doctors in Canada have saved a young mother’s life by resorting to a radical solution –removing her lungs for six days while she waited for a transplant, in what is believed to be the first procedure of…
Putting it on par with some of the best teams in the West, including seven-time European champion AC Milan, a recent investment in Chinese soccer team Beijing Guoan pegs the value of the club at more than $800 million. According to a statement issued yesterday, taking over from previous owner Chinese conglomerate Citic Ltd., Beijing-based property developer Sinbo…
As the Saudi Arabian Oil Co. pushes ahead with plans for the world’s largest share sale, banks including Goldman Sachs Group Inc. and HSBC Holdings Plc are being asked to pitch for an advisory role on its initial public offering, reported the media quoting people people with knowledge of the matter. Lenders including Credit Suisse…
The path of leaving the European Union just got a little bit more complicated for the U.K. Prime Minister Theresa May. Control of the European Parliament, which must approve any Brexit deal, was lost by the Socialist party, already struggling in France, Italy and the Netherlands. Creating the possibility of division that could encumber May’s…
Patent for a network that manages a very specific aspect of the self-driving experience: How autonomous cars navigate reversible lanes, has been awarded to international online retailer Amazon. Reversible lanes are a potential disaster zone for self-driving cars that haven’t yet been programmed to understand those signals and hence reversible lanes indicate a change in direction of…
The California Air Resource Board and the EPA have found the automaker in violation of their respective laws. The U.S. Environmental Protection Agency (EPA) has notified Fiat Chrysler Automobiles (FCA) that it is in violation of the Clean Air Act, since its software installed in some of its diesel vehicles increased the emission of its…
Accusing the head of Samsung Group, the country’s biggest conglomerate, of paying multi-million dollar bribes to a friend of President Park Geun-hye, South Korea’s special prosecutors’ office said it will seek a warrant to arrest Jay Y. Lee . As investigators probed a corruption scandal that resulted in parliament impeaching Park last month, the Samsung Group chief was…
After a leap in prices to record levels last year, salmon devotees should prepare to pay more for their smoked fish or grilled fillets. Noting the first decline in six years and the steepest fall in a quarter of a century, supplies of global farmed salmon fell almost 9 per cent from the previous year,…
China plans to give a further boost to its economy by spending $503B on expansion of its railways. As China turns to investments in infrastructure to bolster growth and improve connectivity across the country, it plans to spend 3.5 trillion yuan ($503 billion) to expand its railway system by 2020. According to details released at…
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